Bulldog Investors Builds Large Activist Stake In Hill International Inc (HIL) Leading Up To Candlestick Point Announcement

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So far this year Hill International Inc (NYSE:HIL)’s stock has appreciated by a staggering 26%, although the performance over the last 12 months is much less impressive, as it has lost more than 16% of its value. In comparison, the business services industry has posted 10.46% year-to-date gains and is up by 27% in the last year. Professional money managers largely maintained the same view on Hill International Inc (NYSE:HIL)’s prospects during the first trimester. Among the hedge funds that we track, a total of 12 had an aggregate investment of $23.23 million in the company at the end of March, compared to 13 firms with $24.67 million in holdings at the end of the prior quarter. The stock price depreciated by a little over 8% during this three month period, accounting for the dip in aggregate holdings. Peter Schliemann‘s Rutabaga Capital Management and Charles Paquelet‘s Skylands Capital are the largest stockholders of Hill International Inc (NYSE:HIL) among these funds as of March 31. While Rutabaga held 3.57 million shares valued at $12.80 million at the end of the first trimester, Skylands reduced its holding in the June quarter to about 656,300 shares valued at $3.45 million, in contrast to Bulldog’s bullishness.

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